Incorporated in New York and headquartered in Boston, General Electric was originally founded during a period of industrial consolidation that marked the end of the so-called War of Currents between two of the most prominent scientists of the time, Edison and Tesla. In 1892, GE was formed through the merger of Thomas Edison's Edison General Electric Company with Thomson-Houston Electric company, and is now one of the largest corporations in the world. The American multinational conglomerate is one of the original twelve companies to enlist on the Dow Jones Industrial Average, but was removed in 2018 due to its falling stock price over the previous few years.
Although GE assumes no liability for the 2011 Fukushima Daiichi disaster, it felt the effects through drops in its stock price shortly afterward: Having designed the six reactors in the Fukushima II Nuclear Power Plant incident, GE received heavy criticism, regarding the design of the power plant cooling systems.
Today, GE employs some 174,000 people worldwide. The company generated global revenue to the value of over 79.6 billion U.S. dollars in 2020.
General Electric's product segments include aircraft engines, home appliances, electric motors, weapons, and wind turbines, among others. With revenue of approximately 22 billion U.S. dollars, the aviation segment was GE's leading segment in terms of sales in its latest fiscal year.
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Research expert covering transportation and electronics